M&T Bank Corp cut its holdings in Sprint Corp (NYSE:S) by 44.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,858 shares of the cell phone carrier’s stock after selling 25,068 shares during the period. M&T Bank Corp’s holdings in Sprint were worth $182,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its position in shares of Sprint by 1,911.9% in the 4th quarter. Teacher Retirement System of Texas now owns 218,876 shares of the cell phone carrier’s stock worth $1,289,000 after buying an additional 207,997 shares in the last quarter. ING Groep NV purchased a new stake in shares of Sprint in the 4th quarter worth about $188,000. Alps Advisors Inc. boosted its position in shares of Sprint by 85.9% in the 4th quarter. Alps Advisors Inc. now owns 34,280 shares of the cell phone carrier’s stock worth $202,000 after buying an additional 15,842 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Sprint by 10.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,913,227 shares of the cell phone carrier’s stock worth $11,269,000 after buying an additional 185,142 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in shares of Sprint by 26.3% in the 4th quarter. Gabelli Funds LLC now owns 3,331,253 shares of the cell phone carrier’s stock worth $19,621,000 after buying an additional 692,700 shares in the last quarter. Institutional investors and hedge funds own 14.11% of the company’s stock.
A number of research firms have issued reports on S. Macquarie lowered shares of Sprint from a “neutral” rating to an “underperform” rating and set a $5.00 target price on the stock. in a report on Tuesday, January 23rd. KeyCorp lowered shares of Sprint from a “sector weight” rating to an “underweight” rating and set a $5.50 target price on the stock. in a report on Monday, November 6th. UBS Group restated a “buy” rating and issued a $7.50 target price (down from $9.00) on shares of Sprint in a report on Monday, November 6th. Deutsche Bank reduced their target price on shares of Sprint to $5.50 and set a “hold” rating on the stock in a report on Monday, December 11th. Finally, Vetr lowered shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 target price on the stock. in a report on Thursday, January 4th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $6.11.
Sprint Corp (NYSE S) opened at $5.30 on Monday. The firm has a market cap of $21,216.10, a PE ratio of 3.06 and a beta of 0.64. Sprint Corp has a 1-year low of $4.91 and a 1-year high of $9.22. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.
Sprint (NYSE:S) last announced its quarterly earnings data on Friday, February 2nd. The cell phone carrier reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.19 billion. Sprint had a net margin of 21.41% and a negative return on equity of 0.94%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.46) EPS. research analysts anticipate that Sprint Corp will post 1.77 earnings per share for the current year.
Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline.
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